Review:Regulation:Asset:Min. Deposit:Min. Spread:
5 out of 5 stars (5 / 5)6 Regulators4 classes and 300+ Markets$50Variable 0.8 pips

Forex.com Logo

A broker that values the trust of its clients is a reliable Forex Broker. Forex.com claims to be a global broker that values transparency and trust of its traders. How will we determine or know if the broker is reliable? We might also ask ourselves, is this broker worth the shot? In this review, we will discuss the Forex.com broker. Together, we will find out if this broker is worth the shot of our trust.

Forex.com Official Website

Forex.com Official Website

Regulation and security of customer funds
Professional customer support
Good trading conditions

What is forex.com? – Company presented

Forex.com is founded in 2001 and offers its clients over 300 markets that includes FX, indices, shares, and cryptocurrencies. It is a global broker that offers the lowest trading cost and is one of the world’s largest MetaTrader brokers. The company is regulated in many countries. Forex.com offers its clients trading platforms that are robust for both new and professional traders. The parent company of Forex.com is GAIN Capital Holdings, which trades on the NYSE under ticker GCAP. This broker provides an average spread for all of the types of accounts.

Facts about Forex.com:

  • Founded in 2001
  • Markets over 300 including FX, indices, shares and cryptocurrencies
  • World’s largest MetaTrader broker
  • Global Forex Broker
  • Part of the stock exchange listed company GAIN Capital

Is Forex.com regulated? – Regulation and safety for the customers

One great trait you need to think about in knowing if the broker is legit and trusted is its transparency. Regulation and authorization are essential as well. The broker needs to pass certain criteria in order to gain the license to operate and this regulation also serves as your protection from scammers. Forex.com is regulated and authorized by the FCA – Financial Conduct Authority in the United Kingdom. The firm claims to be an open and transparent broker. Forex.com has proved its liability by its strength and stability. The firm assures its clients that choosing them as a broker to trade with is safe and secure.

Forex.com is regulated by the famous FCA

Forex.com is regulated by the famous FCA

Forex.com is regulated by the following:

Other regulators of Forex.com affilliates:

Financial Security

Trader chooses a broker that he/she can trust in order to secure his/her investment, and as well as for security. Forex.com is part of GAIN Capital Holdings, Inc. (NYSE: GCAP). The company assures its clients that their funds are secure due t the fact that the funds (money) of the clients are in segregated client bank accounts in accordance with the FCA’s client money rules. As a parent company GAIN Capital Holdings, Inc. (NYSE: GCAP), Forex.com is considered as a global provider of online trading services. As a global, publicly-traded company, GAIN Capital must meet the highest standards of corporate governance, financial reporting, and disclosure. As this said, the firm stands on its value of transparency to its customers.

Forex.com is a secure trading platform

Forex.com is a secure trading platform

Forex.com has proven it’s stability and strength with its records. Clients who choose to trade with this broker feel secure due to the fact of having the knowledge of how the company operates, with the capital resources that allow traders to innovate and lead the industry forward. There is also a client protection program being offered by Forex.com.

Forex.com uses the FSCS

Forex.com uses the FSCS

The company is a member of Financial Services Compensation Scheme (FSCS), which offers up to £85,000 cover in the event a firm becomes insolvent or ceases trading to eligible traders. The company never engages in proprietary trading and commits loyalty to its customers.

Summary of regulation and financial security:

  • Funds are segragated in client bank accounts in accordance with the FCA’s client money rules
  • Clients may be eligible for Financial Services Compensation Scheme (FSCS) that offers up to £85,000 cover in the event a firm becomes insolvent or ceases trading
  • Robust bank review and monitoring guidelines set by the Risk Committee of GAIN Capital Holdings, Inc. (NYSE: GCAP)
  • Company never engage in proprietary trading
  • Regulated and authorized
  • Commits transparent trading experience to its traders
  • Commits loyalty to its traders

Review of trading conditions for traders

Forex.com claims to deliver an exceptional trading experience to its traders with superior execution and low consistent costs. Trust and loyalty is very important to this broker and value each one of its clients. The company also offers a transparent trading experience. It is a global market that leads and connects traders to the currency markets since it began in 2001. Forex.com over 300 markets, which includes Forex, indices, shares, and cryptocurrencies.

The most traded assets and spreads: 

Asset:Variable spread from:
AUD/USD:0.8 pips
EUR/USD:0.8 pips
USD/JPY0.8 pips
XAU/USD (GOLD): 35 points
US SP 500:0.8 points
US crude oil:0.04 poins

Also, for security, this broker offers protection of its clients’ funds. The funds/money of the customer is held in segregated client bank accounts in accordance with FCA’s clients’ money rules. It is held with top-tier banks and offers trust letters to ensure that the money/funds of its clients remain segregated from assets of the bank. Forex.com never engage in proprietary trading. This broker offers fast trades and consistent execution.

Forex.com Trading Conditions for Traders

Forex.com Trading Conditions for Traders

New customers can start with a free demo account. For trading with real money you only have to deposit $50. Also, we have to mention that leveraged products are offered and the lever is depending on the market/asset you trade. For getting more accurate information about each market you can find it on the Forex.com homepage.

Facts about the conditions for traders:

  • Markets over 300 including FX, indices, shares and cryptocurrencies
  • Offers low cost for crypto trading
  • Competitive MT4 Platform
  • Minimum deposit is $50
  • Offers free demo account
  • Transparent trading fees
  • The required margin is depending on the traded asset
  • Offers fast trades and consistent execution

Test of the Forex.com trading platforms

Platform is one of the important factors traders look into selecting a Forex Broker. Forex.com has developed its own MetaTrader 4 and WebTrader Platform to better serve its clients. MT4 is the most popular platform used by traders both beginner and professional. It has integrated tools and dedicated support that is available and exclusive for Forex.com traders. Also, it has MetaTrader 4 Expert Advisors (EA) that tailors to the specification of the trader, providing traders a high degree of oversight, flexibility, and control.

Forex.com offers the following platforms:

  • Forex.com MetaTrader 4
  • Forex.com Advanced Trading Platform
  • Forex.com WebTrader Platform

Forex.com Advanced Trading Platform

Derived from the name itself Forex.com MetaTrader 4 ‘Advanced’ Trading Platform, this platform is designed for serious traders who demand sophistication in trading features and analytical tools joined in one package. This Platform features highly customizable dashboards and trade preferences. It has powerful charting tools, more than 80 technical indicators, and extensive drawing tools. Its advanced analytical tools incldues integrated trading strategies with 100s predefined templates to choose from.

Forex.com advanced Trading Platform

Forex.com Advanced Trading Platform

Advantages of the Advanced Trading Platform: 

  • Professional analytic tools
  • Hedging allowed
  • Flexible indicators
  • Integrated trading strategies
  • Advanced order types
  • Trade signals

Forex.com Web Trading Platform

Forex.com Web Trading Platform is an optimized platform that delivers high performance, reliability, and speed across all browsers. It has integrated trading tools, market commentary and analysis. It also highlights its features of seamless account management, funding, and withdrawals. This platform has advanced charting features, more than 70 technical indicators, and more than 50 drawing tools. Plus, it is customizable.

Screenshot of the Forex.com WebTrader Platform

Screenshot of the Forex.com WebTrader Platform

Mobile Trading (App) is possible with Forex.com

The power to be able to trade anytime and wherever the trader wants is being offered by Forex.com. The MetaTrader 4 Mobile Trading Platform or Forex.com App gives the ability to its clients to trade in the palm of their hands whenever connected to the internet. This platform has full trading capabilities with multiple order types.

It has advanced TradingView charting that can quickly place trades and able to let traders see open positions plotted on live charts. It has advanced analysis tools, features real-time trade and order alerts, with integrated fund management. It has easy access reports in order for you to track and monitor your account without a struggle. Also, it is customizable. The mobile app is available to download in GooglePlay for Android and in AppStore for iOS.

Forex.com Mobile Trading

Forex.com Mobile Trading

All platforms have the features:

  • Read Market News
  • Customizable
  • Allows you to use all order types
  • Free Demo Account
  • Search and Select Tools
  • Advanced Trading Tools
  • Customer Support
  • Integrated Fund Management
  • Mobile-Friendly and User-Friendly
  • Features Real-Time Trade

Professional Charting and Analysis is possible

Charting and Technical Analysis are both important in getting successful trades. Charting enables you to easily understand the movements of the market and as well as a graphical representation to keep you on track historical prices. The most common chart types are bar charts and candlestick charts. Although these charts look different, they provide similar information.

Candlestick charts show the different colors of candles. The typical red ones are the bearish candles. This means that the opening price was greater than the closing price for a specific time range/interval. On the other side, the typical green ones are bullish candles, which means the opening price was lower than the closing price for a specific time range/interval.

Candlesticks example: 

Candlestick Charting with Forex.com

Candlestick Charting with Forex.com

Forex.com offers the right tools for any technical analysis strategy. You can use more than 70 different indicators who are fully customizable. Also, technical drawing tools are offered for any type of analysis. As mentioned before, Forex.com supports the charts of Tradingview.com and MetaTrader 4. These are the most popular platforms for doing analysis.

Advantages of charting with Forex.com: 

  • Customizeable indicators
  • Technical drawing tools
  • A lot of different charttypes
  • Fully customizable charting
  • Support Tradingview.com and MetaTrader charting
  • Perfect for any type of analysis

Charting together with the right application of Technical Analysis, you will be able to have better trades. Technical analysis includes mapping of the trend and price patterns through technical indicators. Forex.com has advanced technical indicators in its MetaTrader 4 platform, giving its clients an edge in trading.

  • Forex.com example of range and trend in technical analysis

    Forex.com example of range and trend in technical analysis

Forex.com Trading Tutorial: How to trade

As a trader, you need to decide which market you want to analyze and trade on. For better trading results, one must know the movement of the markets. Whether it is going upwards, or downwards. With this said, once you know the movement of the market, it would be easier for you to decide whether to buy or sell. For instance, if you think that the market value will fall, then go and choose to sell. However, if you think that the price will increase in value, choose to buy.

Trade currencies with Forex.com

Trade currencies with Forex.com

The first move when executing a trade is that you need to choose an asset you would like to analyze. Then analyze the asset and decide a forecast of the price movement. Afterward, open the order mask. Next step us to customize your position. Once you already did this, go ahead and select the order volume. Lastly, you can decide whether you buy or sell the asset you want.

Step by step tutorial:

  1. Choose an asset you would like to analyze
  2. Analyze the asset and decide a forecast of the price movement
  3. Open the order mask
  4. Customize your position
  5. Select the order volume
  6. Buy or sell the asset you want

Free Forex.com Demo Account

Forex.com offers free Demo Account. This account is 100% risk-free. It is for 30 days and has virtual funds. We highly recommend for you to get a demo account first and practice your trading skills, in order to avoid unintentional trades. Trading requires a high risk of your funds/money. Also, be aware that Forex Trading and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. This provider has 69% of retail investor accounts that lost money in trading CFDs. You should consider whether you understand how CFDs work. Also, bear in mind the thought of whether you can afford to take the high risk of losing your money.

How to open your account

You can open an account with Forex.com so easily and as little as 5 minutes. First, you just have to fill in information about yourself. Fill up the form with your information and your trading experience. Then, you can go and fund your account right away. You can make a deposit via debit card, wire transfer, and eCheck or check. After funding your account, you can already start trading. Once the account has been approved, you can trade in the platform you want to use: desktop, web, and mobile.

Account opening form of Forex.com

Account opening form of Forex.com

Account Types of Forex.com

Forex.com gives its clients three types of account. The Demo Account is a free account wherein you can trade risk-free. This account serves as a training account and highly recommended to be used before trading live. With this account, you can familiarize yourself with the trading strategies and styles that you want to use, as well as letting you be more comfortable with the platform and tools that you’ll be using in live trading. The second one is the Live Account.

This account requires real money/funds in order to execute trades. The last one is the Professional Client account, wherein you need to pass certain criteria in order to qualify to attain this account. This is designed for professional traders and once you are eligible for this account, you will have access to its services specially designed to accommodate your unique needs, including broker-assisted dealing, and a dedicated market strategist. However, when with this account, you will lose the benefits of negative balance protection and lower leverage limits

Account Types:

  • Demo Account
  • Live Account
  • Professional Client Account

Reviews of deposit and withdrawal

You can make a deposit via credit/debit card, Paypal, wire transfer, and eCheck or check. Please be aware that Forex.com doesn’t accept payment through Western Union.

For Credit/Debit Card transaction, the minimum is $/£100 or equivalent. You can use VISA, MasterCard, or Maestro. Basically, Forex.com doesn’t charge any fees for incoming card deposits.

For the use of PayPal and Wire Transfer, the minimum amount per transaction is also different. For PayPal, the minimum is £50 or equivalent per transaction, while for Wire Transfer is $/£100 or equivalent per transaction. PayPal is the same with depositing using Credit/Debit card, Forex.com doesn’t charge any fee for incoming deposits. While with Wire Transfer, your bank may charge a fee but Forex.com won’t.

Please see the table below for further details:

Payment method:Min. deposit: Duration:Fees:
Credit/Debit Cards$100within 24 hoursNo
Bank wire$1001 – 2 business daysNo
PayPal$50instant but can take up to 48 hoursNo

Fees and costs for Forex.com Traders

The minimum deposit for a live account is $50. For inactivity fees, any account with less than $10,000 and no trading activity for more than 12 months are subject to a $15-per-month charge. However, accounts over $10,000 are exempt from inactivity fees. Also, there are no additional fees charged by Forex.com for deposits. On the other hand, for withdrawals, checks and ACH payments are free. While wire transfers under $10,000 in the U.S. will incur a $25 fee, and all other wire transfers are $40. Lastly, for over $10,000 wire transfers are free.

Facts about fees and costs:

  • Minimum deposit is $50
  • Inactivity fee of $15-per-month (any account with less than $10,000 and no trading activity for more than 12 months)
  • Withdrawals via wire transfers under $10,000 in the U.S. has $25 fee
  • Withdrawals over $10,000 via wire transfers are free
  • No charge for additional deposit

Support and service of Forex.com

Customer support and assistance is very important in choosing a broker. In order to have the full trust of a customer, one must give good customer service and support. The company must show its reliability through its customer support and services. The call support of Forex.com operates 24 hours a day from 10 am Sunday to 5 pm Friday. You can also chat or email Forex.com’s support.

All you need to do is to give in your name, email address, fill in your query, and submit. An agent will get back to you with your concern. Currently, Forex.com gave an update on their customer support page, encouraging customers to visit their Service Updates for faster assistance. The support of Forex.com is professional and is very helpful.

Forex.com support on the trading platform

Forex.com support on the trading platform

Also, Forex.com offers free educational materials to its traders and useful information for beginners with trading. You can see this on the official website of Forex.com in the support section under education. This is very helpful to any type of trader. It offers different kinds of educational themes, including creating a plan and analyzing strategies. We can say that the support and service of Forex.com are good and reliable.

Forex.com offers its clients free educational materials

Forex.com offers its clients free educational materials

Facts about the support:

  • Customer Support 24 hours from 10 am Sunday to 5 pm Friday
  • Phone Support
  • Chat Support
  • Email Support
  • Free educational materials
  • Reliable and good
  • Multi-languages

Conclusion of the review: Is Forex.com legit? – We think: Yes

Forex.com has proven it’s stability and strength with its records. Clients who choose to trade with this broker feel secure due to the fact of having the knowledge of how the company operates, with the capital resources that allow traders to innovate and lead the industry forward. This broker values the trust of its clients and is giving its best to serve its clients with fairness and with excellency. It offers its clients over 300 markets that includes FX, indices, shares, and cryptocurrencies. Forex.com is a global broker that offers the lowest trading cost and is one of the world’s largest MetaTrader brokers.

It offers trading platforms that are robust for both new and professional traders. This broker provides an average spread for all of the types of accounts. Also, the company is regulated in many countries.

We recommend Forex.com as a reliable and legit broker. The company is loyal to its clients and offering a transparent trading experience. It is regulated and has been operating to its excellence since 2001. This broker is worth the trust.

Forex.com is a trusted Forex Broker

Advantages:

  • Global and regulated Broker
  • Offers fast and consistent execution (DMA and professional accounts)
  • Free demo accounts
  • Minimum deposit of $50
  • Competitive MetaTrader 4 and Web Platforms
  • Markets over 300 including FX, indices, shares and cryptocurrencies
  • Offers lowest trading cost
  • Offers average spread for all of the types of accounts
  • Reliable and good customer support
  • Commits transparent trading experience to its traders
  • Offers protection of customer funds
  • Accepts US clients

Forex.com shows us very high expert knowledge in Forex Trading. The broker offers very good conditions for any type of trader. 5 out of 5 stars (5 / 5)